Graham Arnold's men were drawn in Group A for the South American continental championship, which starts on June 12.
That means Australia will play their five group stages matches in Argentina against the two-time FIFA World Cup champions, Uruguay, Chile, Bolivia and Paraguay.
The Socceroos' opening match will be against 15-time Copa America champions Uruguay and their star striker Luis Suarez on June 13.
Australia are one of two guest nations competing in the tournament along with Qatar.
Asian Cup holders Qatar have been drawn in Group B and will face co-hosts Colombia, defending champions Brazil, Ecuador, Peru and Venezuela.
Qatar played in this year's Copa along with Japan, drawing their opening group match but failing to get past the group stage.
No guest nation has won the Copa, with Mexico coming closest by reaching the final in 1993 and 2001.
The top four teams from each group at the 2020 Copa America qualify for the quarter-finals.
2020 COPA AMERICA GROUPS
Group A: Argentina (co-hosts) Australia Bolivia Uruguay Chile Paraguay
Group B: Colombia (co-hosts) Brazil Qatar Venezuela Ecuador Peru
